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Monday, Sept. 15
Pall Corp. reports higher profit, sales(5:54 pm ET)
SAN FRANCISCO (MarketWatch) -- Pall Corp. (PLL: news, chart, profile) late Monday reported a fiscal fourth-quarter profit of $69.9 million, or 57 cents a share. A year ago, it earned $16.7 million, or 13 cents a share. For the quarter ended July 31, Pall said sales rose almost 12% to $723.2 million. The East Hills, N.Y.-based company forecast fiscal 2009 earnings in the range $2.15 to $2.30 a share, excluding charges.
Energy stocks fall hard in early action(9:41 am ET)
NEW YORK (MarketWatch) -- Energy stocks fell hard, joining crude futures in the red in early action on Monday. The Amex Natural Gas Index (XNG: news, chart, profile) shed 4%. The Amex Oil Index (XNG: news, chart, profile) fell 4.7%. Oil futures retreated $5.40 to $95.71. The stock market fell hard in the opening minutes of trade, with the Dow Jones Industrial Average ($DJ: news, chart, profile) down more than 200 points.
NYSE trader: 'We'll get through it'(9:27 am ET)
NEW YORK (MarketWatch) -- Traders on the floor of the New York Stock Exchange conceeded that the bankruptcy of Lehman Brothers, and jitters over AIG (AIG: news, chart, profile) , will likely result in big losses in the financial sector on Monday. "It's a financial crisis, but we'll get through it," said David Henderson of Raven Securities, an independent broker. He forecast a loss of at least 200 points in the Dow Jones Industrial Average ($DJ: news, chart, profile) . "This mess is a huge mess." Theodore Weisberg of Seaport Securities compared Lehman's fall to the demise of Drexel some 20 years ago. "I've been coming here for 40 years and there have been periods of times like this before," he said. "It's never fun."
Lehman bankruptcy filing shows $613 billion debt(8:30 am ET)
NEW YORK (MarketWatch) -- A bankruptcy filing made Monday morning shows that Lehman Brothers Holdings (LEH: news, chart, profile) is closing its doors with more than $600 billion of debt. The bank has total debts of $613 billion against total assets of $639 billion. Its filing with the Bankruptcy Court of the Southern District of New York shows that Lehman had more than 100,000 creditors, the largest of which were Citigroup Inc. (C: news, chart, profile) and Bank of New York Mellon Corp. (BK: news, chart, profile) , which were the indentured trustees of about $138 billion of Lehman's senior notes. Bank of New York was also listed as the second- and third-largest creditor, with separate claims of $12 billion of subordinated debt and $5 billion of junior subordinated debt. The filing also names AXA (AXA: news, chart, profile) , ClearBridge Advisors and FMR, parent of Fidelity Investments, as Lehman's three largest stockholders.